Reading: Atlantis estate agency sold to The Romans Group
Atlantis has sold its Reading-based estate agency to the Romans Group. The transaction marks the largest acquisition to date for Romans with the sale resulting in a £5 million consideration being paid to Atlantis’s ultimate owner, John Sykes.
Sykes said: “The decision to sell our local estate agency business was not easy. However, since I conceived Atlantis in 2000 our group has grown considerably and I felt that we were not able to devote the time needed to this part of our business in order to continue its development and growth.
"Atlantis now has several other trading subsidiaries across the UK, but in addition the group has amassed an ever-growing commercial and residential property portfolio both internationally and within the UK. There are a number of exciting projects in our pipeline, which fit the passion, and drive of the group’s management team and I am looking forward to progressing these.
"There will continue to be lots of activity from Atlantis in Reading moving forward, perhaps the most visual being the redevelopment of Kings Walk, or Atlantis Village as it will be known.”
Expanding its portfolio of estate and letting agencies has been high on the agenda for the Romans Group with eight successful acquisitions already under its belt since 2013 and a £12m finance facility from its bankers available for more business purchases.
Atlantis Sales & Lettings is now fully-incorporated into the Romans Reading branch, with the Residential and Commercial Estate Management services remaining part of the Atlantis Group.
Established in 1987, the Romans Group has 23 sales and lettings branches across Berkshire, Buckinghamshire, Hampshire, Oxfordshire and Surrey, and its ambitious growth plans have led to several other exciting acquisitions in the local area, including Meldrum Salter Edgley in Guildford, James Griffin in Bracknell, and the opening of new branches in Farnham and Sunningdale.
Acquired agencies benefit from immediate investment in Information Technology, training, intensive marketing and the numerous services also available to customers on top of sales and lettings, including investment advice, conveyancing, surveying, auction sales, mortgage advice, land and new homes, and planning.
Peter Fuller, managing director of Romans Lettings, said: “With our extensive acquisition experience in the local area, capacity and financing facility, we are ready and able to consider any acquisition opportunity and plan to accelerate our rate of growth this year and in the years to come.”
The Romans Group is actively looking to expand into new locations. For more information about the acquisition process contact Peter Fuller directly on [email protected]
